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Tuesday, 20 November 18
GOLDEN ENERGY AND RESOURCES LEADS A$249M BID FOR AUSTRALIA-LISTED STANMORE COAL - THE STRAITS TIMES
 Singapore-listed Golden Energy and Resources (GEAR) is leading deals worth up to A$249 million (S$250 million) to acquire Australia-listed Stanmore Coal.
GEAR is acquiring a 19.9 per cent stake in coking coal-focused Stanmore for A$47.6 million in cash, with plans to eventually transfer that interest to a 51 per cent joint venture that is offering up to A$201 million for all the remaining shares of Stanmore.
The offer by joint venture Golden Investments (Australia), which GEAR has set up with Ascend Global Investment Fund, is pegged at A$0.95 per Stanmore share. After the offer closes, Golden Investments will acquire GEAR's 19.9 per cent Stanmore stake for a number of Golden Investments shares equal to the cash amount that GEAR paid for the Stanmore shares. GEAR is acquiring the Stanmore shares from Greatgroup Investments, Stanmore's largest shareholder.
The volume weighted average price (VWAP) of Stanmore Coal's shares for all trades done on 16 Nov - the last full day of trading before the announcement - was approximately A$0.8597 per share.
Explaining the acquisition, coal producer GEAR said: "By acquiring an interest in Stanmore Coal, a primarily coking coal focused company, GEAR hopes to enhance its overall asset portfolio in the current commodity price environment by diversifying and expanding its coal product suite and geographical presence."
GEAR and Ascend Global have agreed to fund Golden Investments' bid by subscribing for additional Golden Investments shares. GEAR has agreed to subscribe for shares totalling up to A$79.25 million, while Ascend Global will subscribe for up to A$121.88 million of shares only if Golden Investments is able to obtain control of at least 51 per cent of Stanmore.
Based on Stanmore Coal's FY18 results, the net asset value (NAV) and net tangible assets (NTA) of the sale shares translating to the 19.9 per cent stake are about A$14.56 million and approximately A$13.81 million respectively, as at June 30. Meanwhile, the NAV and the NTA of the shares under the offer (attributable to GEAR's 31.9 per cent stake in Golden Investments before the transfer of the sale shares) are approximately A$23.31 million and A$22.11 million respectively as at June 30.
Based on Stamford Coal's financial year 2018 results, the net profit before income tax, minority interests and extraordinary items attributable to the sale shares is A$2 million; while the same profit for the shares under the offer is approximately A$3.20 million.
Golden Investments' shareholders will fund their respective subscriptions in Golden Investments through a combination of existing cash reserves, GEAR's finance facility of up to A$150 million and via Ascend Global's undrawn capital commitments of US$100 million from investors.
Source: The Straits Times
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Tuesday, 18 December 18
COAL OUTLOOK BULLISH DESPITE WEAK CHINESE IMPORT DATA - HEREN, ICIS
Coal prices may appreciate over the remainder of 2018 even despite recent data showing falling imports from the world’s largest producer and ...
Tuesday, 18 December 18
TOBA BARA ACQUIRES SHARES OF PT BATU HITAM PERKASA
PT Toba Bara Sejahtra Tbk, through its subsidiary PT Toba Bara Energi (“TBE”), has acquired shares ...
Monday, 17 December 18
SUPRAMAX THERE WAS STRONGER DEMAND FROM SOUTHEAST ASIA, WITH MORE COAL BEING SHIPPED - BALTIC BRIEFING
Capesize
A positive end to last week after a somewhat uncertain start as some gains made were eroded. Rates recovered later for West Australia/ ...
Monday, 17 December 18
SOUTH KOREA STATE-OWNED UTILITY KOREA EAST-WEST POWER CO. LTD ISSUED A TENDER FOR MAX 3.220 MILLION TONS OF 4200 TO 5900 NAR COAL
COALspot.com: South Korea state-owned utility Korea East-West Power Co. Ltd (EWP) issued a tender for max 3,220,000 Metric Tons of coal to be loade ...
Saturday, 15 December 18
COMING CHANGES IN MARINE FUEL SULFUR LIMITS WILL AFFECT GLOBAL OIL MARKETS - EIA
International regulations limiting sulfur in fuels for ocean-going vessels, set to take effect in January 2020, have implications for vessel operat ...
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- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Planning Commission, India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
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